Nokia Cuts 10,000 Jobs

A Finnish mobile phone producing company Nokia is planning to cut another 10,000 jobs globally by 2013.

This decision stems from the fact that the financial losses of the company for 2012 reached exceeding figures. These losses for the first quarter of 2012 amounted to nearly 1 billion Euros. The company will also shut down a few branches. By doing so, the company will save approximately 3 billion Euros, 1 billion out of which will be targeted to the reconstruction of the system.

This is not the largest job cut of the company. In 2010 and 2011 Nokia laid off 40,000 employees.